Asset Management Corporation of Nigeria (AMCON) yesterday, took over Bulk Pack Services Limited, a beverage package manufacturer and supplier owned by Alhaji Sani Dangote, the younger brother of Alhaji Aliko Dangote and Vice Chairman of Dangote Groups.
AMCON said the move was part of the corporation’s recovery efforts.
One Mr. Urua Essien, confirmed that he took effective control of the company following the failure of the company to repay its outstanding debt.
“The Receiver immediately sealed off the premises of the company located at Dangote Regional Office, Oluwole Ladipo Street, Off Oba Akran, Ikeja, Lagos,” a statement issued by AMCON revealed.
Bulk Pack Services Limited, which is affiliated to Dangote Group specialises in the manufacturing and supply of packages for major beverage companies like Dansa Foods Limited.
Dangote Group is a multinational industrial conglomerate in West Africa and one of the largest in the African continent. In 2015, the group generated revenue in excess of $3billion.
AMCON Seizes Assets Of Afrijet Airlines Over N10b Debt
Also, the Asset Management Corporation of Nigeria (AMCON) on Friday took over the assets of Afrijet Airlines Ltd, owned by Chief Vitalis Ibe, over an unpaid debt of almost N10 billion.
Mr Jude Nwauzor, Head, Corporate Communications, AMCON, said the takeover was based on an interim injunction granted against the airline by Justice Chuka Obiozor of the Federal High Court, Lagos Division.
“The obligor owes AMCON nearly N10 billion. AMCON purchased the Eligible Bank Assets (EBAs) sometime in 2011 from the defunct FinBank and Bank PHB,” Nwauzor said.
“The order also affects Ibe’s Continental Aviation Services Ltd., AMCON has since appointed Prof. Gbolahan Elias (SAN), as Receiver/Manager. ”
The statement also said that the receiver/manager at about 11a.m on Friday simultaneously took possession of the assets of Ibe including Afrijet Plaza, the corporate head office of the airlines.
According to the statement, the office is located on Sheraton-Opebi Link Road Ikeja, Opebi, Lagos.
The receiver also took over the obligor’s asset at Plot 22, Jimoh Odutola St., off Eric Moore Road, Surulere, Lagos, as well as his office at the Airport.
“The Court order mandated the receiver/manager to also take over on behalf of AMCON and any other offices, branches, stores and factories of Ibe.
“And his companies located and/or traced for the purpose of satisfying the indebtedness,” the statement added.
Nwauzor said the court restrained Ibe and his companies from operating or tampering with the funds in his bank accounts under whatever name or guise in any bank or financial institution in Nigeria.
The statement said the court directed the Inspector General of Police to assist Elias in the enforcement of its orders, adding that no incident was however recorded during the enforcement exercise.
“AMCON, under the leadership of Mr Ahmed Kuru, had recently increased the tempo of its recovery activities.
“And was going after some of its 400 obligors whose total debts account for more than N4.5 trillion,’’ the statement added.
